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Loans
 6 Months Ended
Jun. 30, 2020
Receivables [Abstract]  
Loans Loans
The following is a summary of loans:
(Dollars in thousands)
June 30,
2020
December 31, 2019
Commercial:
 
 
Commercial real estate (1)

$1,630,998


$1,547,572

Commercial & industrial (2)
852,445

585,289

Total commercial
2,483,443

2,132,861

Residential Real Estate:
 
 
Residential real estate (3)
1,508,223

1,449,090

Consumer:
 
 
Home equity
277,632

290,874

Other (4)
18,343

20,174

Total consumer
295,975

311,048

Total loans (5)

$4,287,641


$3,892,999

(1)
Commercial real estate (“CRE”) consists of commercial mortgages primarily secured by income-producing property, as well as construction and development loans. Construction and development loans are made to businesses for land development or the on-site construction of industrial, commercial, or residential buildings.
(2)
Commercial and industrial (“C&I”) consists of loans to businesses and individuals, a portion of which are fully or partially collateralized by real estate. C&I also includes $212.2 million of PPP loans as of June 30, 2020.
(3)
Residential real estate consists of mortgage and homeowner construction loans secured by one- to four-family residential properties.
(4)
Other consists of loans to individuals secured by general aviation aircraft and other personal installment loans.
(5)
Includes net unamortized loan origination fees of $453 thousand at June 30, 2020 and net unamortized loan origination costs of $5.3 million, at December 31, 2019 and net unamortized premiums on purchased loans of $1.1 million and $995 thousand, respectively, at June 30, 2020 and December 31, 2019.

As of June 30, 2020 and December 31, 2019, loans amounting to $2.2 billion and $2.1 billion, respectively, were pledged as collateral to the FHLB under a blanket pledge agreement and to the FRB. See Note 7 for additional disclosure regarding borrowings.

Concentrations of Credit Risk
A significant portion of our loan portfolio is concentrated among borrowers in southern New England and a substantial portion of the portfolio is collateralized by real estate in this area. The ability of single family residential and consumer borrowers to honor their repayment commitments is generally dependent on the level of overall economic activity within the market area and real estate values. The ability of commercial borrowers to honor their repayment commitments is dependent on the general economy as well as the health of the real estate economic sector in the Corporation’s market area.

Past Due Loans
Past due status is based on the contractual payment terms of the loan. The following tables present an age analysis of past due loans, segregated by class of loans:
(Dollars in thousands)
Days Past Due
 
 
 
 
 
 
June 30, 2020
30-59
 
60-89
 
Over 90
 
Total Past Due
 
Current
 
Total Loans
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate

$—

 

$—

 

$431

 

$431

 

$1,630,567

 

$1,630,998

Commercial & industrial
2

 
1

 
—

 
3

 
852,442

 
852,445

Total commercial
2

 
1

 
431

 
434

 
2,483,009

 
2,483,443

Residential Real Estate:
 
 
 
 
 
 
 
 
 
 
 
Residential real estate
3,858

 
3,545

 
5,096

 
12,499

 
1,495,724

 
1,508,223

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity
829

 
16

 
788

 
1,633

 
275,999

 
277,632

Other
16

 
2

 
88

 
106

 
18,237

 
18,343

Total consumer
845

 
18

 
876

 
1,739

 
294,236

 
295,975

Total loans

$4,705

 

$3,564

 

$6,403

 

$14,672

 

$4,272,969

 

$4,287,641


(Dollars in thousands)
Days Past Due
 
 
 
 
 
 
December 31, 2019
30-59
 
60-89
 
Over 90
 
Total Past Due
 
Current
 
Total Loans
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate

$830

 

$—

 

$603

 

$1,433

 

$1,546,139

 

$1,547,572

Commercial & industrial
1

 
—

 
—

 
1

 
585,288

 
585,289

Total commercial
831

 
—

 
603

 
1,434

 
2,131,427

 
2,132,861

Residential Real Estate:
 
 
 
 
 
 
 
 
 
 
 
Residential real estate
4,574

 
2,155

 
4,700

 
11,429

 
1,437,661

 
1,449,090

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity
971

 
729

 
996

 
2,696

 
288,178

 
290,874

Other
42

 
—

 
88

 
130

 
20,044

 
20,174

Total consumer
1,013

 
729

 
1,084

 
2,826

 
308,222

 
311,048

Total loans

$6,418

 

$2,884

 

$6,387

 

$15,689

 

$3,877,310

 

$3,892,999



Included in past due loans as of June 30, 2020 and December 31, 2019, were nonaccrual loans of $10.6 million and $11.5 million, respectively.

All loans 90 days or more past due at June 30, 2020 and December 31, 2019 were classified as nonaccrual.

Nonaccrual Loans
Loans, with the exception of certain well-secured loans that are in the process of collection, are placed on nonaccrual status and interest recognition is suspended when such loans are 90 days or more overdue with respect to principal and/or interest, or sooner if considered appropriate by management. Well-secured loans are permitted to remain on accrual status provided that full collection of principal and interest is assured and the loan is in the process of collection. Loans are also placed on nonaccrual status when, in the opinion of management, full collection of principal and interest is doubtful. When loans are placed on nonaccrual status, interest previously accrued but not collected is reversed against current period income.  Subsequent interest payments received on nonaccrual loans are applied to the outstanding principal balance of the loan or recognized as interest income depending on management’s assessment of the ultimate collectibility of the loan. Loans are removed from nonaccrual status when they have been current as to principal and interest for a period of time, the borrower has demonstrated an ability to comply with repayment terms, and when, in management’s opinion, the loans are considered to be fully collectible.

The following is a summary of nonaccrual loans, segregated by class of loans:
(Dollars in thousands)
Jun 30,
2020
 
Dec 31,
2019
Commercial:
 
 
 
Commercial real estate

$431

 

$603

Commercial & industrial
—

 
657

Total commercial
431

 
1,260

Residential Real Estate:
 
 
 
Residential real estate
13,850

 
14,297

Consumer:
 
 
 
Home equity
1,648

 
1,763

Other
88

 
88

Total consumer
1,736

 
1,851

Total nonaccrual loans

$16,017

 

$17,408

Accruing loans 90 days or more past due

$—

 

$—



For nonaccrual loans with a carrying value of $1.4 million as of June 30, 2020, no ACL was deemed necessary.

As of June 30, 2020 and December 31, 2019, loans secured by one- to four-family residential property amounting to $3.4 million and $5.8 million, respectively, were in process of foreclosure.

Nonaccrual loans of $5.5 million and $5.9 million, respectively, were current as to the payment of principal and interest at June 30, 2020 and December 31, 2019.

There were no significant commitments to lend additional funds to borrowers whose loans were on nonaccrual status at June 30, 2020.

The following table presents interest income recognized on nonaccrual loans segregated by loan class:
(Dollars in thousands)
Interest Income Recognized
Periods ended June 30, 2020
Three Months
Six Months
Commercial:
 
 
Commercial real estate

$—


$—

Commercial & industrial
—

—

Total commercial
—

—

Residential Real Estate:
 
 
Residential real estate
103

271

Consumer:
 
 
Home equity
17

40

Other
—

—

Total consumer
17

40

Total

$120


$311



Troubled Debt Restructurings
A loan that has been modified or renewed is considered to be a troubled debt restructuring (“TDR”) when two conditions are met: 1) the borrower is experiencing financial difficulty and 2) concessions are made for the borrower’s benefit that would not otherwise be considered for a borrower or a transaction with similar credit risk characteristics. These concessions may include modifications of the terms of the debt such as deferral of payments, extension of maturity, reduction of principal balance, reduction of the stated interest rate other than normal market rate adjustments, or a combination of these concessions. Debt may
be bifurcated with separate terms for each tranche of the restructured debt. Restructuring of a loan in lieu of aggressively enforcing the collection of the loan may benefit the Corporation by increasing the ultimate probability of collection.

The Corporation's ACL reflects the effects of a TDR when management reasonably expects at the reporting date that a TDR will be executed with an individual borrower. A TDR is considered reasonably expected no later than the point when management concludes that modification is the best course of action and it is at least reasonably possible that the troubled borrower will accept some form of concession to avoid a default. Reasonably expected TDRs and executed TDRs are evaluated individually to determine the required ACL. Troubled debt restructurings that did not involve a below-market rate concession and perform in accordance with their modified contractual terms for a reasonable period of time may be included in the Corporation’s existing pools based on the underlying risk characteristics of the loan to measure the ACL.

Restructured loans are classified as accruing or non-accruing based on management’s assessment of the collectibility of the loan.  Loans which are already on nonaccrual status at the time of the restructuring generally remain on nonaccrual status for approximately six months before management considers such loans for return to accruing status.  Accruing restructured loans are placed into nonaccrual status if and when the borrower fails to comply with the restructured terms and management deems it unlikely that the borrower will return to a status of compliance in the near term and full collection of principal and interest is in doubt.

TDRs are reported as such for at least one year from the date of the restructuring.  In years after the restructuring, TDRs are removed from this classification if the restructuring did not involve a below-market rate concession and the loan is performing in accordance with their modified contractual terms for a reasonable period of time.

The recorded investment in TDRs consists of unpaid principal balance, net of charge-offs and unamortized deferred loan origination fees and costs, at the time of the restructuring. For accruing TDRs, the recorded investment also includes accrued interest.

The recorded investment in TDRs was $6.5 million and $869 thousand, respectively, at June 30, 2020 and December 31, 2019. The ACL on loans included specific reserves for these TDRs of $137 thousand and $97 thousand, respectively, at June 30, 2020 and December 31, 2019.

As of June 30, 2020, there were no significant commitments to lend additional funds to borrowers whose loans had been restructured in a TDR.

The Corporation has elected to account for eligible loan modifications under Section 4013 of the CARES Act. To be eligible under Section 4013 of the CARES Act, a loan modification must be (1) related to the COVID-19 pandemic; (2) executed on a loan that was not more than 30 days past due as of December 31, 2019; and (3) executed between March 1, 2020, and the earlier of (A) 60 days after the date of termination of the national emergency declared by the President on March 13, 2020 concerning the COVID-19 outbreak (the “national emergency”) or (B) December 31, 2020. Eligible loan modifications are not required to be classified as TDRs and will not be reported as past due provided that they are performing in accordance with the modified terms. Interest income will continue to be recognized in accordance with GAAP unless the loan is placed on nonaccrual status in accordance with the nonaccrual loans accounting policy described above. As of June 30, 2020, Washington Trust has executed 583 modifications on loan balances of $652.2 million. The majority of these modifications qualified as eligible loan modifications under Section 4013 of the CARES Act and therefore, were not required to be classified as TDRs and were not reported as past due. Twelve of these modifications on loan balances of $5.6 million were past due before the COVID-19 pandemic and therefore, were classified as TDRs and were included in past due loans as of June 30, 2020.

The following tables present loans modified as a TDR:
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
 
 
 
 
Outstanding Recorded Investment (1)
 
# of Loans
 
Pre-Modifications
 
Post-Modifications
Three months ended June 30,
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
1

 
—

 

$841

 

$—

 

$841

 

$—

Commercial & industrial
2

 
—

 
460

 
—

 
460

 
—

Total commercial
3

 
—

 
1,301

 
—

 
1,301

 
—

Residential Real Estate:
 
 
 
 
 
 
 
 
 
 
 
Residential real estate
6

 
—

 
3,512

 
—

 
3,512

 
—

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity
3

 
—

 
802

 
—

 
802

 
—

Other
—

 
—

 
—

 
—

 
—

 
—

Total consumer
3

 
—

 

$802

 

$—

 

$802

 

$—

Total
12

 
—

 

$5,615

 

$—

 

$5,615

 

$—

(1)
The recorded investment in TDRs consists of unpaid principal balance, net of charge-offs and unamortized deferred loan origination fees and costs, at the time of the restructuring. For accruing TDRs, the recorded investment also includes accrued interest.

 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in thousands)
 
 
 
 
Outstanding Recorded Investment (1)
 
# of Loans
 
Pre-Modifications
 
Post-Modifications
Six months ended June 30,
2020
 
2019
 
2020
 
2019
 
2020
 
2019
Commercial:
 
 
 
 
 
 
 
 
 
 
 
Commercial real estate
1

 
—

 

$841

 

$—

 

$841

 

$—

Commercial & industrial
2

 
—

 
460

 
—

 
460

 
—

Total commercial
3

 
—

 
1,301

 
—

 
1,301

 
—

Residential Real Estate:
 
 
 
 
 
 
 
 
 
 
 
Residential real estate
6

 
—

 
3,512

 
—

 
3,512

 
—

Consumer:
 
 
 
 
 
 
 
 
 
 
 
Home equity
3

 
—

 
802

 
—

 
802

 
—

Other
—

 
—

 
—

 
—

 
—

 
—

Total consumer
3

 
—

 

$802

 

$—

 

$802

 

$—

Total
12

 
—

 

$5,615

 

$—

 

$5,615

 

$—


(1)
The recorded investment in TDRs consists of unpaid principal balance, net of charge-offs and unamortized deferred loan origination fees and costs, at the time of the restructuring. For accruing TDRs, the recorded investment also includes accrued interest.

The following table presents information on how loans were modified as a TDR:
 
 
 
 
 
 
 
 
(Dollars in thousands)
Three Months
 
Six Months
Periods ended June 30,
2020
 
2019
 
2020
 
2019
Below-market interest rate concession

$—

 

$—

 

$—

 

$—

Payment deferral
5,202

 
—

 
5,202

 
—

Maturity / amortization concession
—

 
—

 
—

 
—

Interest only payments
—

 
—

 
—

 
—

Combination (1)
413

 
—

 
413

 
—

Total

$5,615

 

$—

 

$5,615

 

$—


(1)
Loans included in this classification were modified with a combination of any two of the concessions listed in this table.
For the three and six months ended June 30, 2020, payment defaults on TDRs modified within the previous 12 months occurred on one loan with a carrying value of $47 thousand at the time of the default. For the three and six months ended June 30, 2019, there were no payment defaults on TDRs modified within the previous 12 months.
 
 
 
 
 
 
 
 

Individually Analyzed Loans
Effective January 1, 2020, individually analyzed loans include nonaccrual commercial loans, loans classified as TDRs, and certain other loans based on the underlying risk characteristics and the discretion of management to individually analyze such loans. As of June 30, 2020, the carrying value of individually analyzed loans amounted to $7.1 million, of which $4.3 million were considered collateral dependent.

For collateral dependent loans where management has determined that foreclosure of the collateral is probable, or where the borrower is experiencing financial difficulty and repayment of the loan is to be provided substantially through the operation or sale of the collateral, the ACL is measured based on the difference between the fair value of the collateral and the amortized cost basis of the loan as of the measurement date. See Note 10 for additional disclosure regarding fair value of individually analyzed collateral dependent loans.

The following table presents the carrying value of collateral dependent individually analyzed loans:
(Dollars in thousands)
 
 
As of June 30, 2020
Carrying Value
Related Allowance
Commercial:
 
 
Commercial real estate (1)

$431


$—

Commercial & industrial (2)
414

—

Total commercial
845

—

Residential Real Estate:
 
 
Residential real estate (3)
2,664

—

Consumer:
 
 
Home equity (3)
754

233

Other
—

—

Total consumer
754

233

Total

$4,263


$233

(1)
Secured by income-producing property.
(2)
Secured by business assets.
(3)
Secured by one- to four-family residential properties.
Prior to January 1, 2020, impaired loans included nonaccrual loans and loans restructured in a TDR. The Corporation identified loss allocations for impaired loans on an individual loan basis. The following is a summary of impaired loans:
(Dollars in thousands)
 
 
 
 
 
As of December 31, 2019
Recorded Investment (1)
 
Unpaid Principal
 
Related Allowance
No Related Allowance Recorded
 
 
 
 
 
Commercial:
 
 
 
 
 
Commercial real estate

$—

 

$—

 

$—

Commercial & industrial
—

 
—

 
—

Total commercial
—

 
—

 
—

Residential Real Estate:
 
 
 
 
 
Residential real estate
13,968

 
14,803

 
—

Consumer:
 
 
 
 
 
Home equity
1,471

 
1,472

 
—

Other
88

 
88

 
—

Total consumer
1,559

 
1,560

 
—

Subtotal
15,527

 
16,363

 
—

With Related Allowance Recorded
 
 
 
 
 
Commercial:
 
 
 
 
 
Commercial real estate

$603

 

$926

 

$—

Commercial & industrial
657

 
657

 
580

Total commercial
1,260

 
1,583

 
580

Residential Real Estate:
 
 
 
 
 
Residential real estate
687

 
714

 
95

Consumer:
 
 
 
 
 
Home equity
292

 
291

 
291

Other
18

 
18

 
2

Total consumer
310

 
309

 
293

Subtotal
2,257

 
2,606

 
968

Total impaired loans

$17,784

 

$18,969

 

$968

Total:
 
 
 
 
 
Commercial

$1,260

 

$1,583

 

$580

Residential real estate
14,655

 
15,517

 
95

Consumer
1,869

 
1,869

 
293

Total impaired loans

$17,784

 

$18,969

 

$968

(1)
The recorded investment in impaired loans consists of unpaid principal balance, net of charge-offs, interest payments received applied to principal and unamortized deferred loan origination fees and costs. For accruing impaired loans (TDRs for which management has concluded that the collectibility of the loan is not in doubt), the recorded investment also includes accrued interest.

The following table presents the average recorded investment balance of impaired loans and interest income recognized on impaired loans segregated by loan class.
(Dollars in thousands)
Three Months
 
Six Months
For the periods ended June 30, 2019
Average Recorded Investment
Interest Income Recognized
 
Average Recorded Investment
Interest Income Recognized
Commercial:
 
 
 
 
 
Commercial real estate

$926


$—

 

$951


$1

Commercial & industrial
3,868

49

 
4,276

103

Total commercial
4,794

49

 
5,227

104

Residential Real Estate:




 
 
 
Residential real estate
10,728

107

 
10,441

222

Consumer:




 
 
 
Home equity
1,332

13

 
1,406

27

Other
35

—

 
28

—

Total consumer
1,367

13

 
1,434

27

Total

$16,889


$169

 

$17,102


$353



Credit Quality Indicators
Commercial
The Corporation utilizes an internal rating system to assign a risk to each of its commercial loans. Loans are rated on a scale of 1 to 10. This scale can be assigned to three broad categories including “pass” for ratings 1 through 6, “special mention” for 7-rated loans, and “classified” for loans rated 8, 9 or 10. The loan rating system takes into consideration parameters including the borrower’s financial condition, the borrower’s performance with respect to loan terms, the adequacy of collateral, the adequacy of guarantees and other credit quality characteristics. The Corporation takes the risk rating into consideration along with other credit attributes in the establishment of an appropriate allowance for credit losses on loans. See Note 6 for additional information.

A description of the commercial loan categories is as follows:

Pass - Loans with acceptable credit quality, defined as ranging from superior or very strong to a status of lesser stature. Superior or very strong credit quality is characterized by a high degree of cash collateralization or strong balance sheet liquidity. Lesser stature loans have an acceptable level of credit quality, but may exhibit some weakness in various credit metrics such as collateral adequacy, cash flow, performance or may be in an industry or of a loan type known to have a higher degree of risk. These weaknesses may be mitigated by secondary sources of repayment, including SBA guarantees.

Special Mention - Loans with potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Bank’s position as creditor at some future date. Special Mention assets are not adversely classified and do not expose the Bank to sufficient risk to warrant adverse classification. Examples of these conditions include but are not limited to outdated or poor quality financial data, strains on liquidity and leverage, losses or negative trends in operating results, marginal cash flow, weaknesses in occupancy rates or trends in the case of commercial real estate and frequent delinquencies.

Classified - Loans identified as “substandard,” “doubtful” or “loss” based on criteria consistent with guidelines provided by banking regulators. A “substandard” loan has defined weaknesses which make payment default or principal exposure likely, but not yet certain. Such loans are apt to be dependent upon collateral liquidation, a secondary source of repayment or an event outside of the normal course of business. The loans are closely watched and are either already on nonaccrual status or may be placed on nonaccrual status when management determines there is uncertainty of collectibility. A “doubtful” loan is placed on nonaccrual status and has a high probability of loss, but the extent of the loss is difficult to quantify due to dependency upon collateral having a value that is difficult to determine or upon some near-term event which lacks certainty. A loan in the “loss” category is considered generally uncollectible or the timing or amount of payments cannot be determined. “Loss” is not intended to imply that the loan has no recovery value, but rather, it is not practical or desirable to continue to carry the asset.

The Corporation’s procedures call for loan ratings and classifications to be revised whenever information becomes available that indicates a change is warranted. On a quarterly basis, management reviews the watched asset list, which generally consists of commercial loans that are risk-rated 6 or worse, highly leveraged transaction loans, high-volatility commercial real estate and other selected loans. Management’s review focuses on the current status of the loans and strategies to improve the credit. An annual loan review program is conducted by a third party to provide an independent evaluation of the creditworthiness of the commercial loan portfolio, the quality of the underwriting and credit risk management practices and the appropriateness of the risk rating classifications. This review is supplemented with selected targeted internal reviews of the commercial loan portfolio.

Residential and Consumer
Management monitors the relatively homogeneous residential real estate and consumer loan portfolios on an ongoing basis using delinquency information by loan type.

The following table summarizes the Corporation’s loan portfolio by credit quality indicator and loan portfolio segment:
(Dollars in thousands)
Term Loans Amortized Cost by Origination Year
 
 
 
As of June 30, 2020
2020
2019
2018
2017
2016
Prior
Revolving Loans Amortized Cost
Revolving Loans Converted to Term Loans
Total
Commercial:
 
 
 
 
 
 
 
 
 
CRE:
 
 
 
 
 
 
 
 
 
Pass

$204,928


$376,942


$338,798


$249,371


$150,315


$285,727


$11,917


$2,422


$1,620,420

Special Mention
—

—

—

9,301

—

846

—

—

10,147

Classified
—

—

—

—

—

431

—

—

431

Total CRE
204,928

376,942

338,798

258,672

150,315

287,004

11,917

2,422

1,630,998

C&I:
 
 
 
 
 
 
 
 
 
Pass
286,230

103,671

84,136

63,842

68,551

112,282

100,844

1,462

821,018

Special Mention
271

—

—

2,434

—

16,897

1,630

68

21,300

Classified
414

—

—

—

—

7,592

2,121

—

10,127

Total C&I
286,915

103,671

84,136

66,276

68,551

136,771

104,595

1,530

852,445

Residential Real Estate:
 
 
 
 
 
 
 
 
 
Residential real estate:
 
 
 
 
 
 
 
 
 
Current
227,967

321,681

205,996

201,423

160,586

378,071

—

—

1,495,724

Past Due
—

510

631

2,139

111

9,108

—

—

12,499

Total residential real estate
227,967

322,191

206,627

203,562

160,697

387,179

—

—

1,508,223

Consumer:
 
 
 
 
 
 
 
 
 
Home equity:
 
 
 
 
 
 
 
 
 
Current
6,958

8,591

5,204

2,108

1,375

5,026

234,470

12,267

275,999

Past Due
—

—

—

176

—

13

497

947

1,633

Total home equity
6,958

8,591

5,204

2,284

1,375

5,039

234,967

13,214

277,632

Other:
 
 
 
 
 
 
 
 
 
Current
1,132

2,645

1,842

2,113

742

9,434

327

2

18,237

Past Due
8

—

—

11

87

—

—

—

106

Total other
1,140

2,645

1,842

2,124

829

9,434

327

2

18,343

Total Loans

$727,908


$814,040


$636,607


$532,918


$381,767


$825,427


$351,806


$17,168


$4,287,641


Consistent with industry practice, Washington Trust may renew commercial loans at or immediately prior to their maturity. Renewals subject to full credit evaluation before being granted are reported as current period originations in the table above.
The following table presents the commercial loan portfolio, segregated by category of credit quality indicator:
(Dollars in thousands)
 
 
 
 
 
As of December 31, 2019
Pass
 
Special Mention
 
Classified
Commercial:
 
 
 
 
 
Commercial real estate

$1,546,139

 

$830

 

$603

Commercial & industrial
549,416

 
24,961

 
10,912

Total commercial

$2,095,555

 

$25,791

 

$11,515



The following table presents the residential and consumer loan portfolios, segregated by category of credit quality indicator:
(Dollars in thousands)
 
 
 
As of December 31, 2019
Current
 
Past Due
Residential Real Estate:
 
 
 
Residential real estate

$1,437,661

 

$11,429

Consumer:
 
 
 
Home equity

$288,178

 

$2,696

Other
20,044

 
130

Total consumer

$308,222

 

$2,826